SME Financial Difficulties

If you are in Financial Difficulty, how can Mars Capital Help?

Mars Capital has established a procedure to help you if you experience Financial Difficulty and we will always work with you to try and come to an arrangement appropriate to your particular circumstances and will require your cooperation and commitment to be able to do so.

If you are concerned you may be in financial difficulty please contact us on LoCall 1800 816 121 or, if calling from abroad, +353 1 526 8580.

The 4 Steps of a Credit Review...

4 Steps of a Credit Review

Pre-Arrears and Arrears

You should inform Mars if you are at risk of going into arrears as soon as possible or you are in arrears and are worried about going into financial difficulties. We will offer you the option of a credit review to consider your situation.

If you accept this offer, we will conduct a full credit review, likewise you can hold an Annual Meeting for the purposes of a Credit Review. We will look at your credit facilities, loan security, income and expenditure and consider your particular circumstances.

We will identify what options are available to you in order to address your arrears or financial difficulties and whether our financial difficulties process can be applied to your case.

You could be classified as being in Financial Difficulty if you are in arrears for 3 consecutive months on your loan facility or an alternative payment arrangement (ARA) or following a credit review.

The definition of Financial Difficulty is defined as a situation in which one or more of the following apply to a credit facility agreement or alternative arrangement:

a) the borrower is in arrears under the credit facility agreement or alternative arrangement for 3 consecutive months.
b) where the credit facility agreement is an overdraft facility, the approved limit on the overdraft is exceeded for 90 consecutive days.
c) the regulated entity has, following an assessment carried out in accordance with Regulation 17(2)(b), 17(4)(b) or 35(2)(b), determined that the borrower’s circumstances are such that Regulations 18 to 23 or Regulations 36 to 41 should be applied to the borrower’s case.

Useful Contacts

Citizens Information Board
Phone: 0761 07 4000
Website: www.citizensinformation.ie

Central Bank of Ireland
Phone: +353 (0)1 224 6000
Website: www.centralbank.ie

Insolvency Service of Ireland
Phone: 076 106 4200
Website: www.isi.gov.ie

Enterprise Ireland
Phone: +353 1 727 2000
Website: www.enterprise-ireland.com

Office of Revenue Commissioners
Website: www.revenue.ie

Supporting SMEs
Phone: 
Website: https://supportingsmes.gov.ie/

Chamber of Commerce
Phone: +353 1 631 2121
Website: https://www.chambers.ie/

ISME
Phone: 
Website: https://isme.ie/

BPFI
Phone: +353 1 662 2755
Website: https://www.bpfi.ie/

Small Firms Association
Phone: 01 605 1500
Website: https://www.sfa.ie/

Useful SME download

Information Booklet for Small and
Medium Sized Enterprises

DOWNLOAD

Central Bank (Supervision and Enforcement)
Act 2013 (Section 48) (Lending to Small and
Medium Sized Enterprises) Regulation 2015

DOWNLOAD

Income and Expenditure
Form

DOWNLOAD

3rd party Authorisation
Form

DOWNLOAD